Dummy day trading #45 16-Jan-2007: NQ Short trade closed

In contrast to my morning analysis, I saw a new downtrend cycle was formed. Short position of NQ futures was established at 1030am (Chicago time). It was a nice candle pattern and resisted by down trending moving average. I moved my stop to break even after position was gaining 2.5-R. However, market reversed with a strong big candle. I was stopped out.
Trade summary:

  • Short below the low of 13th candle.
  • Initial stop loss was set above 13th candle.
  • Stop was moved to break even after position was gain more than 2.5 R. And stop was triggered.

One trade closed with 0 R (after commission)

[photopress:NQ5mintradeclosed.jpg,full,pp_image]

About Gav

A Father, Husband, Trader, and Blogger. A serious coffee addict. Started trading since 2005, trades Futures and FX.

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Comments

  1. Hey Gav — Happy New Year! Also, I really like you new blog design.

    Same result for me today — one trade for 0.0R

    Best of luck in 2007.

  2. Hey Gav — Happy New Year! Also, I really like you new blog design.

    Same result for me today — one trade for 0.0R

    Best of luck in 2007.

  3. Estocastica, Thanks! 🙂
    It was a chop fest indeed.

    Have a great 2007!

  4. Estocastica, Thanks! 🙂
    It was a chop fest indeed.

    Have a great 2007!

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